Northstar Advisory Group LLC Sells 15,308 Shares of Alphabet Inc. (NASDAQ:GOOGL)

Northstar Advisory Group LLC lowered its stake in shares of Alphabet Inc. (NASDAQ:GOOGL - Free Report) by 64.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,547 shares of the information services provider's stock after selling 15,308 shares during the period. Northstar Advisory Group LLC's holdings in Alphabet were worth $1,322,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Pallas Capital Advisors LLC raised its stake in Alphabet by 1.2% during the 1st quarter. Pallas Capital Advisors LLC now owns 176,451 shares of the information services provider's stock worth $27,286,000 after buying an additional 2,168 shares during the period. Farther Finance Advisors LLC raised its holdings in Alphabet by 23.0% during the 1st quarter. Farther Finance Advisors LLC now owns 143,514 shares of the information services provider's stock worth $22,542,000 after buying an additional 26,877 shares during the period. Daymark Wealth Partners LLC boosted its holdings in shares of Alphabet by 1.6% in the first quarter. Daymark Wealth Partners LLC now owns 295,741 shares of the information services provider's stock valued at $45,733,000 after buying an additional 4,744 shares during the period. Destiny Wealth Partners LLC increased its position in shares of Alphabet by 5.6% during the first quarter. Destiny Wealth Partners LLC now owns 39,073 shares of the information services provider's stock worth $6,042,000 after acquiring an additional 2,078 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Alphabet by 2.3% during the first quarter. Moss Adams Wealth Advisors LLC now owns 37,804 shares of the information services provider's stock worth $5,846,000 after acquiring an additional 834 shares during the period. 40.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Alphabet news, CAO Amie Thuener O'toole sold 673 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $155.33, for a total transaction of $104,537.09. Following the sale, the chief accounting officer now directly owns 15,303 shares in the company, valued at $2,377,014.99. This represents a 4.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sundar Pichai sold 32,500 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $158.56, for a total transaction of $5,153,200.00. Following the completion of the transaction, the chief executive officer now directly owns 2,717,696 shares in the company, valued at approximately $430,917,877.76. This represents a 1.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 195,770 shares of company stock worth $32,036,638 in the last quarter. Corporate insiders own 11.64% of the company's stock.

Alphabet Stock Performance

GOOGL traded up $2.51 on Tuesday, reaching $178.60. The company had a trading volume of 61,705,672 shares, compared to its average volume of 30,325,150. The stock has a market cap of $2.17 trillion, a P/E ratio of 22.19, a P/E/G ratio of 1.34 and a beta of 1.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.84 and a current ratio of 1.84. Alphabet Inc. has a fifty-two week low of $140.53 and a fifty-two week high of $207.05. The company's fifty day moving average is $160.52 and its 200 day moving average is $174.46.

Alphabet (NASDAQ:GOOGL - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.81 EPS for the quarter, beating the consensus estimate of $2.02 by $0.79. The company had revenue of $76.49 billion for the quarter, compared to the consensus estimate of $89.30 billion. Alphabet had a return on equity of 32.49% and a net margin of 28.60%. During the same quarter in the prior year, the business earned $1.89 earnings per share. As a group, analysts predict that Alphabet Inc. will post 8.9 earnings per share for the current fiscal year.

Alphabet Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 9th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Monday, June 9th. This is an increase from Alphabet's previous quarterly dividend of $0.20. This represents a $0.84 annualized dividend and a dividend yield of 0.47%. Alphabet's dividend payout ratio is 9.36%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Susquehanna reduced their target price on shares of Alphabet from $225.00 to $220.00 and set a "positive" rating for the company in a research note on Friday, April 25th. Royal Bank of Canada reissued an "outperform" rating and issued a $200.00 target price on shares of Alphabet in a research report on Wednesday, April 23rd. KeyCorp upped their price target on Alphabet from $185.00 to $195.00 and gave the stock an "overweight" rating in a research report on Friday, April 25th. JMP Securities reaffirmed a "market perform" rating on shares of Alphabet in a research report on Wednesday, May 21st. Finally, Morgan Stanley cut their price target on shares of Alphabet from $210.00 to $185.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Ten analysts have rated the stock with a hold rating, twenty-six have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, Alphabet currently has an average rating of "Moderate Buy" and an average price target of $199.75.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.